News
08.12.2009
German farmers send 780,000 tonnes of EU intervention barley
German farmers have offered about 780,000 tonnes of barley into European Union intervention since the new purchasing season started on November 1, German agricultural agency BLE said on Monday. This was up from 703,000 tonnes offered at the beginning of last week. All offers were for barley, no wheat was involved, the BLE said.
The EU subsidises farmers by guaranteeing to buy some crops including grains in a scheme called intervention with the cereals purchasing season starting on November 1. German traders expect between 1 million and 1.5 million tonnes of German barley to be offered into intervention because commercial prices are currently below the current intervention price of about 102 euros a tonne. Eastern German feed barley prices of around 90 to 95 euros a tonne mean EU subsidies are more profitable than commercial sales.
Reuters
